GVA instructed on 60% of all Birmingham office lettings in record-breaking 2017

TypeNews

Date15/01/2018

The Birmingham office market saw a record-breaking year in 2017, with GVA appointed on almost 60% of all transactions.

The figures from the Birmingham Office Market Forum (BOMF) showed a total of 1,005,072 sq ft of space was transacted across 130 deals throughout the course of the year, with GVA appointed as sole or joint agent on 59% of properties that made up this figure.

George Jennings, GVA, said: “This has been a truly phenomenal year and we’ve seen some exceptional deals completed to a variety of occupier types. These range from statement inward investment from the government at Arena Central, to the consolidation of offices and a number of smaller individual transactions.

“There remains a substantial level of activity in the market but availability of high quality Grade A stock continues to dwindle. While there is currently a robust pipeline, there is little to satisfy more immediate requirements.”

The Birmingham Office Market Forum compiles figures on office transactional activity within the city to provide a single overview of the state of the city’s commercial market.